Water Technologies Looks to Bolster its Balance Sheet by acquiring 51% of an Estimated 40 Million Dollar Residential Community. The Homes will be Rented with a Projected Two Million Dollar Gross Annual Rental income.
PORT ST. LUCIE, FL / ACCESSWIRE / February 15, 2024 / Water Technologies International, Inc. (OTC Markets Pink Sheets:WTII - News) the leader in the technology in atmospheric water generator's production and design and water treatment, announced today, the letter of intent to acquire a 51% interest in Orchard 79, LLC., a 87 home community of single family homes that will generate approximately $2 Million dollars in revenue per annum. Water Technologies will issue new Preferred Series E shares for newly issues ownership in the real estate project.
The Orchard 79 community is several months away from completion and has completed 52 homes so far. Orchard 79, LLC., will seek permanent financing of approximately $25 million dollars, leaving significant equity in the project. The Parties are in the stages of reaching a definitive agreement and expect to complete the transaction in the next thirty days. Orchard 79 will have an option of a spin out to a real-estate public company, or a REIT after an agreed upon time frame.
Water Technologies, Inc.'s CEO, William Scott Tudor, said, "I believe this what Water Technologies needs, is a solid asset with predictable revenue to bolster our balance sheet. Real estate in California continues to appreciate and demand for leasing single family homes is solid as the prices continue to rise. I believe this will aid in additional acquisitions of a similar revenue generating assets."
Orchard 79, LLC.,'s President, Dan Bailey, said "I am extremely excited to join the public company realm, this gives me the opportunity to expand the valuation of Orchard 79. I look forward to working with Water Technologies as a public company. I can see how this new relationship will open new doors for this development and possibly other communities we are developing."
Tequila Dios Azul LOI update.
The Letter of Intent between Water Technologies and Tequila Dios Azul. LLC., has expired as of December 31st, 2023. The Companies did not come to a final definitive agreement. Dios Azul Tequila continues to expand its product distribution capabilities.
A video showing the proof-of-concept prototype is available at the company's website, www.gr8water.net
For a direct link to a copy of the company's product information "Slick Sheets" visit our website at: www.gr8water.net/products/product-slick-sheets.
About the Company Water Technologies International, Inc., and its wholly owned subsidiaries, GR8 Water, Inc. (Great Water) and Aqua Pure International, Inc. (Specializing in Filtration Systems) are engaged in the manufacture and distribution of technologically advanced Atmospheric Water Generators (AWG). These unique devices utilize a patented system to produce clean, great-tasting, safe water from the humidity in the air. GR8 Water makes freestanding water factory units for the home or office and large, industrial-sized water units using a modular design that can produce up to thousands of gallons of water each day from ambient air. GR8 Water strives to make safe drinking water available to everyone on the planet, making the world a better place in which to live while nurturing the environment. The Company has patents issued by the USPTO. Its "Water village" trademark has been issued by the USPTO.
Statement as to Forward-Looking Statements.
Forward-Looking Statements certain statements in this release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors. We assume no obligation to update the information contained in this news release.
For Further Information Contact:
Investor Relations for Water Technologies Intl., Inc.
William S Tudor, CEO
[email protected]
SOURCE: Water Technologies International, Inc.